In a super Store the supply and demand equations for a particular kind of coffee are given by Supply: p=2q+4 Demand: p=25−5q where ? is the price per pound of coffee and ? is the quantity of coffee in hundreds of pounds. What is the equilibrium price for coffee?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
icon
Related questions
Question

In a super Store the supply and demand equations for a particular kind of coffee are given by

Supply: p=2q+4
Demand: p=25−5q

where ? is the price per pound of coffee and ? is the quantity of coffee in hundreds of pounds. What is the equilibrium price for coffee?

Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning